Brussels: Eurozone finance ministers on Thursday elected Greek Minister of Economy and Finance Kyriakos Pierrakakis as President of the Eurogroup. Pierrakakis will assume office on 12 December 2025 for a two and a half year term, with the first Eurogroup meeting under his presidency scheduled for 19 January 2026. He is set to remain in his post until mid-2028.
According to Kuwait News Agency, European congratulations followed the announcement of his election. EU Commission President Ursula von der Leyen said in a post on X, "Congratulations on your election as President of the Eurogroup." She emphasized the importance of working closely together on the international role of the euro and the Savings and Investment Union to bolster competitiveness.
EU Council President Antonio Costa highlighted Greece's progress over the past decade in his message on X, noting that Pierrakakis's election signifies meaningful recognition of this advancement for both Greece and the broader Union. Similarly, European Parliament President Roberta Metsola celebrated the election as a testament to Greece's economic recovery and growth. She affirmed that the EU Parliament would continue to be a strong partner in efforts to strengthen Europe's economy and enhance its competitiveness.
The Eurogroup, an informal assembly of finance ministers from euro area countries, focuses on discussing shared issues related to the single currency. Its main objectives include ensuring close economic policy coordination among member states and fostering conditions for stronger economic growth. Additionally, the group prepares for Euro Summit meetings and follows up on their outcomes, typically convening once a month before the Economic and Financial Affairs Council meeting.